Comment letter on misuse of “FDIC-Insured” in advertising
Downloads
Comment letter from PIRG, NCLC and other leading consumer groups urging the FDIC to protect use of its “FDIC-Insured” and “Member FDIC” logos from misuse and false advertising, including by cryptocurrency companies or FDIC-member banks also selling uninsured investments. Excerpt:
We recommend use of a standardized icon such as the red circle-backslash symbol overlayed on the word “FDIC” or “FDIC-insured.” Underneath the symbol it should read clearly and conspicuously, “NOT FDIC-insured.”
Topics
Authors
Ed Mierzwinski
Senior Director, Federal Consumer Program, PIRG
Ed oversees U.S. PIRG’s federal consumer program, helping to lead national efforts to improve consumer credit reporting laws, identity theft protections, product safety regulations and more. Ed is co-founder and continuing leader of the coalition, Americans For Financial Reform, which fought for the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, including as its centerpiece the Consumer Financial Protection Bureau. He was awarded the Consumer Federation of America's Esther Peterson Consumer Service Award in 2006, Privacy International's Brandeis Award in 2003, and numerous annual "Top Lobbyist" awards from The Hill and other outlets. Ed lives in Virginia, and on weekends he enjoys biking with friends on the many local bicycle trails.
Find Out More
Food for Thought 2024
Is Alexa always listening? How to protect your data from Amazon
Safe At Home in 2024?
